HNW Family Planning
We assist first generation (G1) of a HNW family to navigate key decisions surrounding their wealth and their legacy and can assist with any multi-generational issues leading on from that.
We assist with resolving the unique issues faced by HNW families regarding:
(1) Succession – this can relate not only to managing the overall estate but also components of it eg investments, businesses and philanthropic efforts
(2) Tax efficiency – working with tax advisers getting the structure of the estate right and the timing in order to avoid unnecessary tax leakage
(3) Provision for future generations – how best to do this for G2, G3 and other future heirs and how much is made available for different purposes and when
We work with founders and the extended family, where appropriate, to assist in establishing their wishes and to work through:
- Establishing what the estate actually comprises and what the purpose and profile of each element is
- Family Charters – to reflect agreed family values and wealth distribution philosophy
- Family Governance (eg Division of Roles, Family Councils, Advisory boards, voting on key decisions, involvement of G2, G3 etc)
- Pre & Post nuptial agreements – rules in accordance with the Family Charter designed to protect core wealth
- Succession – designing programmes and opportunities for potential heirs to understand various aspects of the estate and agree a process of how and when they are introduced to the Family Charter and Family Governance
Paratum provides an unbiased and impartial route for these discussions and offers a unique combination of board level professional corporate and financial experience coupled with mediation expertise.
We help HNW families clearly identify the issues and talk about them in a structured and unemotional way in order to resolve issues of control, divergence of ideas and rivalries eg fairness v equality to help Founders and the wider family arrive at an agreed position.
We do not provide legal or financial advice but we will work with the existing family advisers wherever necessary to assist with the planning and implementation of the family’s wishes once they have been established.